logo
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

 


BHP Billiton Heading For Possible SEC Action

By  +Follow August 16, 2013 11:00AM
Share:
Tickers Mentioned:

BHP Billiton Ltd. (BHP) , the world’s largest industrial metals and minerals miner, is under renewed scrutiny from the US Securities and Exchange Commission.

In a statement on the company’s website, BHP said that, “The issues relate primarily to matters in connection with previously terminated exploration and development efforts, as well as hospitality provided as part of the company’s sponsorship of the 2008 Beijing Olympics.”

The original SEC inquiry into the matter began in 2009, when the commission requested information from the Australian firm. This resulted in BHP first disclosing that it had potentially discovered evidence of US anti-corruption laws being violated.  But the company’s second, damning disclosure was the result of pressure from the US Department of Justice as well as the Australian Federal Police, both of whom were investigating not only events related to the Beijing Olympic games, but also terminated mineral exploration projects in Cambodia and the Philippines.

On Friday, however, the company looked as though it was trying to get out in front of a scandal of some sort, with the additional disclosure of the possibility of “enforcement actions” being taken against it in the near future.

BHP has just posted a 13th consecutive quarter of record iron-ore production, and earlier in the week CEO Andrew Mackenzie announced that the company would be expanding its shale drilling operations in the US. The company’s stock, however, is down almost 12 percent on the year to its current price of $67.61.

The UK’s Telegraph has had the most thorough report on the matter heading into midday trading. It cited Australian reports from earlier in the year that claimed the company used its involvement in the Beijing Olympic Games to enhance relations with the heads of China’s state operate steel companies, including Chinalco, Baosteel, and the China Iron & Steel Association.

It is not yet clear what sort of action the SEC could take against the company, as all parties have declined to comment, aside from the statement on the company website.

[Image: BHP Billiton's Escondida mine, courtesy of Flickr Creative Commons]

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer


Liked What You Read? Join Equities.com and Connect With Your Favorite Financial Experts FOR FREE! Members of Equities.com gain access to our leading financial news and content, active social investment community, proprietary research tools including the 2014 Small-Cap Stars, E.V.A. reports and more.

Results for BHP
WKRB News
2 Aug 15 07:07:26
Analysts Set BHP Billiton Limited Target Price at $51.50 $BHP http://t.co/AV68ZSsDAU
Michael James
2 Aug 15 06:13:21
After A MASSIVE 525% Gain On $GEQU, We Have A New Pick Ready! Special Update: http://t.co/wFGuoX67mX $BHP $CADX $BSX
Michael Cook
2 Aug 15 06:11:18
Our Stock Alerts Gained Over 550% In July! See Our Huge New Pick Coming This Week: http://t.co/abs4Q0eCx9 $BHP $CADX $BSX
Paul Henry
2 Aug 15 06:10:50
Our Penny Stock Picks Have Gained 3,600% In 10 Months! Get Early Access To Our Next Pick: http://t.co/xXdYdpAiFK $BHP $CADX $BSX
Alpha Maven Alerts
2 Aug 15 01:01:30
$BHP active, relative volume: 10.64, 1H, 4:00 AM, #nyse
Rosner Stocks
2 Aug 15 00:51:38
XLB Materials Select Sector SPDR Company Info http://t.co/mM6irA9dOT $XLB $SPXS $BHP $ARDX #XLB #stocks #finance
PolgarStocks
2 Aug 15 00:50:35
XIU.TO iShares CDN S&P/TSX 60 Index Fund Stock Message Board http://t.co/r0uD5Torbr $XIU.TO $CTLT $BHP $WUBA #XIU.TO #stockmarket…
Stock Forums
2 Aug 15 00:50:04
XLP Consumer Staples Select Sector SPDR Shares http://t.co/hmMmwjjGcl $XLP $FXC $BHP $AAXJ #XLP #stock #share
nasdaqfan
2 Aug 15 00:50:04
XHB SPDR S&P Homebuilders Index ETF Chart http://t.co/HBrhfjTtMj $XHB $UCO $BHP $CAT #XHB #stocks #tradeideas
danrocks
2 Aug 15 00:49:05
UCO ProShares Ultra DJ-UBS Crude Oil Prev Close http://t.co/QoTKEnd1tg $UCO $BHP $SCON $DBVT #UCO #finance #invest
lookn4wins
2 Aug 15 00:49:04
VGSTX Vanguard STAR Fund Volume http://t.co/nF6KlNfCOp $VGSTX $BHP $UUP $GDX #VGSTX #stockmarket #finance
Lucky Jimmy
2 Aug 15 00:47:34
SSE Seventy Seven Energy Inc. Open http://t.co/fGPQhwnT9f $SSE $SFLY $FXI $BHP #SSE #tradeideas #share
Lucky Jimmy
2 Aug 15 00:47:10
TAN Guggenheim Solar ETF Day Low http://t.co/kxoiE25Qba $TAN $BHP $USO $FXC #TAN #tradeideas #invest
Stock Forums
2 Aug 15 00:44:10
OIH Market Vectors Oil Services Dividend http://t.co/YmO1gjASp1 $OIH $DOG $QID $BHP #OIH #invest #share
binaryoptionsocial
2 Aug 15 00:43:32
OPTT Ocean Power Technologies Inc. Ex-Div Date http://t.co/CI5hOuwjoa $OPTT $BHP $XLB $XOM #OPTT #nasdaq #share http://t.co/Csk7miIhta
Stock_Tracker
2 Aug 15 00:43:03
MO Altria Group Inc. Message Board Posts http://t.co/5uk0kkc25n $MO $XLY $BHP $GM #MO #stocks #stock
IH NASDAQ OMX
2 Aug 15 00:42:38
KITE Kite Pharma, Inc. Dividend http://t.co/XXIHVOcza0 $KITE $BHP $SWKS $GE #KITE #finance #pennystocks
Rosner Stocks
2 Aug 15 00:42:35
OPTT Ocean Power Technologies Inc. Ex-Div Date http://t.co/rel2xKCtOZ $OPTT $BHP $XLB $XOM #OPTT #nasdaq #share
clayton
2 Aug 15 00:41:33
IRMD iRadimed Corp. % Change http://t.co/SRtrbP4CRz $IRMD $WYN $MO $BHP #IRMD #investing #tradeideasIWM Russell 2000 iShares Prev…
DennyT
2 Aug 15 00:41:33
IRMD iRadimed Corp. % Change http://t.co/aa7HQ4b86Y $IRMD $WYN $MO $BHP #IRMD #investing #tradeideasIWM Russell 2000 iShares Prev…
Stock_Tracker
2 Aug 15 00:41:20
IRMD iRadimed Corp. % Change http://t.co/Wb2JcmgziY $IRMD $WYN $MO $BHP #IRMD #investing #tradeideasIWM Russell 2000 iShares Prev…
Stock_Tracker
2 Aug 15 00:41:18
IRMD iRadimed Corp. % Change http://t.co/q9pujF6iTm $IRMD $WYN $MO $BHP #IRMD #investing #tradeideasIWM Russell 2000 iShares Prev…
DennyT
2 Aug 15 00:41:17
IRMD iRadimed Corp. % Change http://t.co/bMokFxIyNf $IRMD $WYN $MO $BHP #IRMD #investing #tradeideasIWM Russell 2000 iShares Prev…
lookn4wins
2 Aug 15 00:41:16
IRMD iRadimed Corp. % Change http://t.co/Cz8lC6APeN $IRMD $WYN $MO $BHP #IRMD #investing #tradeideasIWM Russell 2000 iShares Prev…
DennyT
2 Aug 15 00:41:15
IRMD iRadimed Corp. % Change http://t.co/Udk79tleqo $IRMD $WYN $MO $BHP #IRMD #investing #tradeideasIWM Russell 2000 iShares Prev…
clayton
2 Aug 15 00:41:09
IRMD iRadimed Corp. % Change http://t.co/Fz9ERY2KEh $IRMD $WYN $MO $BHP #IRMD #investing #tradeideasIWM Russell 2000 iShares Prev…
clayton
2 Aug 15 00:41:08
IRMD iRadimed Corp. % Change http://t.co/P5Whrriypx $IRMD $WYN $MO $BHP #IRMD #investing #tradeideasIWM Russell 2000 iShares Prev…
Investors Hangout
2 Aug 15 00:41:07
IRMD iRadimed Corp. % Change http://t.co/dRBMTCoDqk $IRMD $WYN $MO $BHP #IRMD #investing #tradeideasIWM Russell 2000 iShares Prev…
Investors Hangout
2 Aug 15 00:41:05
IRMD iRadimed Corp. % Change http://t.co/U2yLXRoNsu $IRMD $WYN $MO $BHP #IRMD #investing #tradeideasIWM Russell 2000 iShares Prev…
clayton
2 Aug 15 00:41:04
IRMD iRadimed Corp. % Change http://t.co/sdTqsfHHtz $IRMD $WYN $MO $BHP #IRMD #investing #tradeideasIWM Russell 2000 iShares Prev…
Stock_Tracker
2 Aug 15 00:40:39
IRMD iRadimed Corp. % Change http://t.co/fV7rOR1NJw $IRMD $WYN $MO $BHP #IRMD #investing #tradeideasIWM Russell 2000 iShares Prev…
Stock_Tracker
2 Aug 15 00:40:37
IRMD iRadimed Corp. % Change http://t.co/l0sgAJ4gc4 $IRMD $WYN $MO $BHP #IRMD #investing #tradeideasIWM Russell 2000 iShares Prev…
Stock_Tracker
2 Aug 15 00:40:36
IRMD iRadimed Corp. % Change http://t.co/42drT2WJNX $IRMD $WYN $MO $BHP #IRMD #investing #tradeideas
nasdaqfan
2 Aug 15 00:39:03
GOOG Google Inc. - Class C 52Wk High http://t.co/XIvlGowg8r $GOOG $DOG $BHP $ACWI #GOOG #pennystocks #investing
Emylers
2 Aug 15 00:38:37
GOLD Randgold Resources Ltd. EOD Data http://t.co/NmjYmM7qYt $GOLD $BHP $BRWC $F #GOLD #stockmarket #share
IH NASDAQ OMX
2 Aug 15 00:38:37
FSM Fortuna Silver Mines Inc. Quotes http://t.co/FzLV6j3Nzt $FSM $BHP $FMCC $CUU.V #FSM #pennystocks #stock
IH NASDAQ OMX
2 Aug 15 00:36:57
EOG EOG Resources, Inc. Bid Size http://t.co/Y0JHpcespo $EOG $GILD $BHP $TVIX #EOG #invest #share
Stock Forums
2 Aug 15 00:36:51
EPGL EP Global Communications Inc. Company Info http://t.co/MRkaAhR74S $EPGL $UDN $SKX $BHP #EPGL #invest #stock
leahanne
2 Aug 15 00:36:36
CRM http://t.co/DHeUIoRayl, Inc. Bid http://t.co/s1hyK52p6l $CRM $ADBE $CCO.TO $BHP #CRM #finance #share
Rosner Stocks
2 Aug 15 00:35:11
BOJA Bojangles Inc. Market Cap http://t.co/szqvQJJabD $BOJA $BHP $EUFX $PBYI #BOJA #stocks #pennystocks
Jake13
2 Aug 15 00:34:06
BHP BHP Billiton Ltd. Change http://t.co/yEDwoRQGt0 $BHP $KEY.TO $DXJ $ASHR #BHP #stock #tradeideas
Emylers
2 Aug 15 00:34:06
BHP BHP Billiton Ltd. Change http://t.co/TW7JPZOIIU $BHP $KEY.TO $DXJ $ASHR #BHP #stock #tradeideas
Emylers
2 Aug 15 00:33:03
BHP BHP Billiton Ltd. Shares http://t.co/WafCs3UFu2 $BHP $TASR $TOT $FXC #BHP #share #stock
jim50
2 Aug 15 00:32:47
BHP BHP Billiton Ltd. Yield http://t.co/Gevs69Grt9 $BHP $KITE $VZ $SWKS #BHP #pennystocks #nasdaq
jim50
2 Aug 15 00:32:47
BTU Peabody Energy Corp. % Change http://t.co/hmuOqHCiKS $BTU $IDRA $BHP $SCON #BTU #share #invest
PolgarStocks
2 Aug 15 00:32:39
BHP BHP Billiton Ltd. Short Sales http://t.co/VcTQVEoRm1 $BHP $KODK $EHTH $CPG.TO #BHP #finance #finance
PolgarStocks
2 Aug 15 00:32:17
BHP BHP Billiton Ltd. Ideas http://t.co/85ayloe8MG $BHP $UWTI $DIV $BIIB #BHP #finance #investing
PolgarStocks
2 Aug 15 00:32:16
BHP BHP Billiton Ltd. Bid http://t.co/wPXhFc4rrH $BHP $SPXL $SMN $SKX #BHP #share #finance
jim50
2 Aug 15 00:32:15
BHP BHP Billiton Ltd. 52Wk Low http://t.co/aMMuPaahQj $BHP $AMZN $NORD $ARDX #BHP #share #stock
Rosner Stocks
2 Aug 15 00:32:11
BHP BHP Billiton Ltd. Current Price http://t.co/twXwU80jPR $BHP $CWCO $DNRG $QLD #BHP #stock #investing
				
				
By  +Follow August 16, 2013 11:00AM
Share:

Comments

 

blog comments powered by Disqus

 Today's Must Reads

Beyond Twitter: 5 Small-Cap Tech Plays Nobody’s Talking About


Will the Fed Continue Its Track Record of Unprecedented Moves?

Facebook versus Google: Who Rules the Internet?

Are These the Worst Business Documentaries on Netflix?


Saving the

Small-Cap Market

 

Small-cap stocks offer investors many benefits, ranging from higher growth potential to overlooked value opportuni... in Equities.com's Hangs on LockerDome

About us

Equities.com is an advanced financial data portal and social network designed to connect self-directed investors with the world’s most innovative startup and small cap companies. Through our in-depth coverage of small cap markets, comprehensive research and stock valuation reports, state of the art issuer products, and world class events, Equities.com provides the social tools and insight that drive tomorrow’s investment relationships and opportunities.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.

Login or Register

LOG IN